THE ESSENCE OF PLANNING IN BUSINESS PROCESSES
Keywords:
business strategies, planning, marketAbstract
Planning is a fundamental component of business processes, serving as the strategic foundation for achieving organizational goals. It involves setting objectives, identifying resources, and designing a sequence of actions to ensure efficient execution. Effective planning enhances decision-making, minimizes risks, and aligns day-to-day operations with long-term visions. It also enables businesses to adapt to dynamic market conditions by forecasting potential challenges and opportunities. As a proactive approach, planning improves coordination across departments, optimizes resource utilization, and supports performance evaluation. In essence, planning transforms abstract goals into actionable steps, making it indispensable in driving sustainable business success.
References
Carroll, A., & Buchholtz, A. (2015). Business and society: Ethics, sustainability and stakeholder management (9th ed.). Stamford, CT: Cengage Learning.
Holzer, B. (2007). Turning stakeseekers into stakeholders. Business & Society, 47(1), 50–67.
Porter, M. (2022). How competitive forces shape strategy. Harvard Business Review, 57 (March–April), 137–145.
Prahalad, C. K., & Hamel, G. (1990). The core competence of the corporation. Harvard Business Review, May, 79–91.
Hamel, G., & Prahalad, C. K. (1994). Competing for the future. Cambridge, MA: Harvard Business Review Press.
Lafley, A., & Martin, R. (2013). Playing to win: How strategy really works. Cambridge, MA: Harvard Business Review Press.
Thompson, A., Peteraf, M., Gamble, J., & Strickland, A. J. III. (2015). Crafting and executing strategy: The quest for competitive advantage. Concepts and cases (20th ed.). New York, NY:McGraw-Hill Education
